New research, analysed by Openpropertygroup.com, shows that the North West is the most affordable region and Cambridgeshire is the most affordable county to buy a New Build house.
Data from National Statistics calculated affordability ratios based on ‘New Build house prices-to-workplace-based’ earnings. The higher the number/ratio, the less affordable, on average, it is for a resident to purchase a house in their local authority district.
Worcestershire is the least affordable county to buy a new build house in, scoring the highest ‘New Build house price-to-workplace-based earnings’ ratio of 13.58. It was closely followed by West Sussex which had a ratio of 13.41 and Warwickshire which scored an affordability ratio of 13.23.
Openpropertygroup.com Managing Director, Jason Harris-Cohen said: "It is no secret that newly built houses carry a price premium. Buyers are paying extra to be the very first owner of a property that's immaculately decorated, kitted out with the latest appliances and built to be energy efficient. The privilege of a turn-key ready property is, however, something that many purchasers are willing to pay for - especially in the most popular locations. Interestingly, while there has always been a North-South divide when it comes to the cost of buying a brand new home, our latest analysis shows the gaps are closing.
Homeowners across England and Wales can benefit from selling their house fast, with a selling timeframe that suits you, by selling to Open Property Group
We buy property directly and you won't pay any agent's fees.